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Mon January 31, 2011
Raimondo launches full treasury review
By CATHERINE WELCH
PROVIDENCE, R.I. – Rhode Island Treasurer Gina Raimondo is conducting a meticulous review of the state treasury. She says the top to bottom review will provide a fresh set of eyes on the state's finances.
Raimondo has put together an advisory group to focus particularly on the state's CollegeBound fund, the state sponsored college savings program. She says investment research company Morningstar has ranked it last in the nation.
"So while it is the second largest plan in the country, we're dead last. And so it's my job to understand why that is the case," she says.
Raimondo says the advisory group will also look at the bond disclosures the state hands out to financial intuitions looking to buy state bonds. She says current disclosures are in good shape, but there's always room for improvement.
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